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The Australian Government provides funding for research through the Medical Research Future Fund (MRFF) and the National Health and Medical Research Council (NHMRC).

The Medical Research Future Fund (MRFF) is a $20 billion long-term investment by the Australian Government designed to transform health and medical research and innovation. It aims to improve the health and wellbeing of Australians by supporting research across the full innovation pipeline”from early-stage discovery to commercialisation and clinical application. Guided by the Australian Medical Research and Innovation Strategy and Priorities, the MRFF is implemented with oversight from the Australian Medical Research Advisory Board (AMRAB), ensuring funding is aligned with national priorities and scientific merit through peer-reviewed, competitive grant processes.One of the MRFF's key challenges is addressing critical funding gaps along the research and development pipeline, particularly the "second valley of death"”the stage where promising medical innovations often fail to advance due to lack of commercialisation support. To counter this, the MRFF has established targeted programs such as the Biomedical Translation Bridge and Biomedical Translation Fund, which help early and late-stage ventures move from research to real-world medical products. These initiatives connect researchers with industry expertise, training, infrastructure, and access to capital.The MRFF also focuses on fostering bold, high-impact "research missions" to tackle pressing national health challenges. These include the Genomics Health Futures Mission (GHFM), which integrates genomics into mainstream healthcare, and initiatives supporting the use of Artificial Intelligence in health. With over $300 million invested in medical research commercialisation alone, the MRFF actively strengthens Australia's biotechnology and medtech industries while creating new jobs and advancing health outcomes.Over time, the MRFF has expanded its scope through the $5 billion, 10-year MRFF Investment Plan and the National Health and Medical Industry Growth Plan. These frameworks institutionalise long-term support for medical innovation by embedding research excellence into national health policy and economic strategy. As it scales, the MRFF is poised to be a cornerstone of Australia's knowledge economy, driving health innovation, commercial growth, and global competitiveness.

Department of Health